Annual Statement to be prepared by 1Municipal Commissioner

§170

Summary

(1) The 1Municipal Commissioner shall, at the end of each year, prepare a statement showing —\br@s (a) the loans borrowed in previous years for which the 2Corporation is liable and which have not been completely repaid before the commencement of the year, with particulars of the amount outstanding at the commencement of the year, the date of borrowing and the annual loan charges ;\br@s (b) the loans borrowed by the 2Corporation in the year with particulars as to the amount and the date of borrowing and the annual loan charges;\br@s (c) in the case of every loan for which a sinking fund is maintained the amount of accumulation in the sinking fund at the close of the year showing separately the amount to the credit of the fund in the year ;\br@s (d) the loans repaid in the year and, in the case of the loans repaid in installments or by annual drawings, the amounts repaid in the year, and the balance due at the close of the year;\br@s (e) the particulars of securities in which the sinking funds have been invested or reserved therefor.\br@s (2) Every such statement shall be laid before a meeting of the 2Corporation and shall be published in the official Gazette and a copy of such statement shall be sent to the State Government and to the Examiner, Local Fund Accounts.\br@s

(1) The 1Municipal Commissioner shall, at the end of each year, prepare a statement showing —\br@s (a) the loans borrowed in previous years for which the 2Corporation is liable and which have not been completely repaid before the commencement of the year, with particulars of the amount outstanding at the commencement of the year, the date of borrowing and the annual loan charges ;\br@s (b) the loans borrowed by the 2Corporation in the year with particulars as to the amount and the date of borrowing and the annual loan charges;\br@s (c) in the case of every loan for which a sinking fund is maintained the amount of accumulation in the sinking fund at the close of the year showing separately the amount to the credit of the fund in the year ;\br@s (d) the loans repaid in the year and, in the case of the loans repaid in installments or by annual drawings, the amounts repaid in the year, and the balance due at the close of the year;\br@s (e) the particulars of securities in which the sinking funds have been invested or reserved therefor.\br@s (2) Every such statement shall be laid before a meeting of the 2Corporation and shall be published in the official Gazette and a copy of such statement shall be sent to the State Government and to the Examiner, Local Fund Accounts.\br@s

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